Damen has signed its first contact with ballast water treatment systems producer Erma First. Greek company Erma First will be supplying its oneTANK, which is the world’s smallest ballast water treatment system. oneTANK uses chemical injection methods to clean ships’ ballast water and therefore represents an important expansion of Damen’s ballast water treatment system portfolio. The contract also marks a key milestone in the cooperation between Damen and the Greek maritime supply sector. Damen Green Solutions has a broad selection of ballast water treatment systems in its range. These offer ...

The Nippon Foundation, Mitsubishi Shipbuilding Co., Ltd., a part of Mitsubishi Heavy Industries Group, and Shin Nihonkai Ferry Co., Ltd., (Osaka, Japan; Yasuo Iritani, Chairman) have successfully completed a demonstration test of the world’s first fully autonomous ship navigation systems on a large car ferry, conducted on the Iyonada Sea from Shinmoji, Kitakyushuu City, on January 17. This demonstration was part of MEGURI 2040, a project promoting the development of fully autonomous vessels supported by The Nippon Foundation. This test demonstrated the world’s first fully autonomous navigation system, on a ...

Chinese shipyards topped the three major metrics used by the global shipbuilding industry in 2021, with the highest number of completed orders, new orders and orders on hand, marking a strong start to the first year of the 14th Five-Year Plan (2021-25), the China Association of the National Shipbuilding Industry (CANSI) said on Sunday. Chinese shipbuilders accounted for about 50 percent of the total global volume, with China State Shipbuilding Corp (CSSC), the nation’s largest shipbuilder, surpassing South Korea’s Hyundai Heavy Industries to become the world’s largest shipbuilder for the ...

Hyundai Heavy Industries’ failed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering may be a boon for the nation’s largest shipbuilder as it has secured abundant cash to focus on new growth engine businesses such as hydrogen, autonomous driving and robots. Last week, the European Commission disapproved the merger plan of the two Korean shipbuilders over monopoly concerns. With the veto by the world’s largest shipbuilding market, Hyundai Heavy saw its three-year efforts for the 2 trillion won ($1.68 billion) deal dashed. But industry watchers say what could ...

GTT announces that it has received, at the end of 2021, two orders, each for the tank design of one new LNGC. The first LNGC will be built by the Korean shipyard Hyundai Samho Heavy Industries. This order concerns a vessel which will offer a total cargo capacity of 174,000 m3 and will be fitted with the Mark III Flex membrane containment system, a technology developed by GTT. The delivery of the vessel is scheduled for the last quarter of 2024. The second LNGC, which order was received from a ...

Daewoo Shipbuilding & Marine Engineering is in search of a new owner again after a merger plan with its larger rival Hyundai Heavy Industries failed due to an EU veto on monopoly concerns. The European Commission announced Thursday its prohibition for the merger, claiming that the deal could reduce competition in the global LNG carrier market amid soaring energy prices. Back in 2019, Hyundai Heavy announced it would acquire a 55.7 percent stake in Daewoo Shipbuilding from its largest shareholder Korea Development Bank for 2 trillion won ($1.68 billion). Their ...

The European Union (EU) refused to endorse the combination of Korea Shipbuilding & Offshore Engineering (KSOE) and Daewoo Shipbuilding & Marine Engineering (DSME) on Jan. 13, expressing its concern that the merged company would monopolize the LNG carrier market. The EU said the marriage of KSOE and DSME threatens its energy security. It believes that LNG will play an important role in its conversion from carbon energy such as oil to renewable energy to cope with climate change and environmental regulations, as LNG has relatively low pollutant emissions. Europe imports ...

DSME’s financial structure remains uncertain following the cancellation of its acquisition by HHI Group. As the planned merger between Hyundai Heavy Industries Group (HHI Group) and Daewoo Shipbuilding & Marine Engineering (DSME) has been canceled, DSME’s financial structure remains uncertain. DSME is presumed to have suffered a net loss of 1.3 trillion won in 2021. Sales fell nearly 40 percent in 2021 from a year earlier due to a severe shortage of work three to four years ago. Its deficit snowballed due to the large-scale provisions prompted by a surge ...

The South Korean government said Thursday that a decision by the European Union to block the merger between the two local shipbuilders – Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering – may have a limited impact, citing a recovery in global ship orders. “The industry is seeing much better conditions than in 2019 and we will continue searching for the right ‘civilian’ operator for DSME,” the government said in a statement jointly released by related ministries, referring to the state-run Korea Development Bank’s decision to sell its stake ...

Europe’s rejection of Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding Marine & Engineering has scuppered what would have been a major step toward consolidation in an industry where excessive competition weighs heavily on profits. The European Commission on Thursday vetoed the deal between the world’s second- and fourth-largest shipbuilders, on the grounds that the South Korean companies’ combined market share of at least 60% in large liquefied natural gas carriers would have reduced competition. Hyundai Heavy issued a statement shortly afterward objecting to the decision, arguing that market share “is ...

Hyundai Heavy Industries’ proposed takeover of rival Daewoo Shipbuilding & Marine Engineering Co Ltd to create the world’s biggest shipbuilder was hit with an EU veto on Thursday on concerns that the deal would hurt competition. Hyundai, one of the largest shipbuilders in the world, announced the deal in 2019 in part to tackle overcapacity in the sector. The shipyard, which sought EU antitrust approval for the takeover in November 2019, said it may challenge the EU prohibition and criticised the regulator’s focus on market shares. The South Korean industry ...

Korea Shipbuilding & Offshore Engineering (KSOE) expects to have the technology to transport hydrogen by ship by 2025, an executive said, targeting a breakthrough in supplying a fuel touted by supporters as offering a major source of clean energy. The development by KSOE 009540.KS, the shipbuilding arm of Hyundai Heavy Industries Group 267250.KS, one of the world’s biggest shipbuilders, comes amid growing global interest in rolling out hydrogen as a cleaner fuel alternative. Vessel makers worldwide are looking at ways to transport the gas, currently supplied via pipelines and trucks. ...

DMC is supplying plug-and-play steering gear to Thecla Bodewes Shipyards for the four new coasters RICK VAN DE WEG3 MIN Damen Marine Components (DMC) has been awarded the contract for Optima nozzles, plug & play Piston-type steering gear and TIMON flap rudders for four coasters being built by Thecla Bodewes Shipyards (TB Shipyards). What is special is that the steering gear for these ships will be supplied plug-and-play, which saves a lot of time during the final installation on board. Damen Marine Components is supplying various systems to Thecla Bodewes ...

Eighteen months have passed since local residents and K’ómoks First Nation (KFN) first raised concerns regarding scrapping operations at Union Bay, traditional unceded territory of First Nations within Baynes Sound, British Columbia, Canada. Now, the NGO Shipbreaking Platform joins them in calling on federal, provincial and regional authorities to make sure that the activities carried out by the operator, Deep Water Recovery Ltd (DWR), cease to cause harm to both local communities and the surrounding environment. In December 2020, DWR converted a former log-sort location in an improvised shipbreaking yard ...

A consortium consisting of Marubeni Corporation (hereinafter, “Marubeni”), Tryangle Inc. (hereinafter, “Tryangle”), Mitsui E&S Shipbuilding Co., Ltd. (hereinafter, “Mitsui E&S Shipbuilding”), and the City of Yokosuka applied to and secured a place in the “Joint Technological Development Programme for the Demonstration of Unmanned Ships” led by The Nippon Foundation in February 2020, and have conducted a pilot project in Yokosuka City with the aim to establish the technology for autonomous ship operations (hereinafter, “Proof of Concept”). On this occasion, the Proof of Concept was successfully completed in a voyage route ...